“I’m mosting likely to rupture your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin fanatic, clarified Bitcoin ETF. He felt that his explanation would certainly make several crypto lovers curious about the Bitcoin ETF take their steps back as it is a “horrible idea”.
” I recognize a lot of people really intend to see an ETF take place because “to the moon and lambos!” However I think it is an awful concept. I still assume it is mosting likely to take place, I simply believe it is a terrible suggestion. I’m in fact against ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the community,” he claimed.
Bitcoin ETF could manipulate prices
Relating To Bitcoin ETF’s capability of attracting considerable amount of exposure, its development has triggered expectations. It has actually additionally seen a rise in costs and also trading volumes once it has been authorized.
ETFs could open the Bitcoin market to a group of institutional capitalists and could likewise supply a platform for big financiers to control the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he stated: “Everybody is so thrilled concerning ETFs. Just what we have actually seen in other markets is that when an ETF becomes available, the cost really increases dramatically, as unexpectedly that product becomes available to a great deal a lot more financiers and also these financiers overdo.
” Yet, the other side of it, is that there are always these claims that the products markets are greatly adjusted and opening these ETFs just boost the ability of institutional capitalists to control the prices of products.”